Vedanta Limited

CLOSING BELL: Broader markets, too, were subdued in trade as Nifty MidCap 100 and Nifty SmallCap 100 indices declined up to 0.4 per cent.

Vedanta's oil and gas business also took a hit due to the windfall tax and lower crude prices in Q2, analysts said

Vedanta Ltd on Friday reported a 60.8 per cent decline in consolidated net profit at Rs 1,808 crore for the quarter ended September 30 on the back of higher expenses. The company had posted a consolidated net profit of Rs 4,615 crore in the year-ago period, Vedanta Ltd said in a regulatory filing. The company's expenses during the July-September period increased to Rs 33,221 crore from Rs 23, 171 crore in the year-ago period. Its consolidated income during the quarter under review increased to Rs 37,351 crore from Rs 31,074 crore last year. Vedanta is a diversified natural resources company.

Vedanta Ltd on Wednesday said that its arm Balco has won the bid for a coal block in Chhattisgarh. The company emerged as successful bidder for the mine during the fourth round of commercial coal mine auction conducted by the government. "The coal block is an optimal fit for Balco, given its logistical location," Vedanta said in a filing to BSE. Once operational, the mine will provide fuel security, enhance power availability, and further strengthen Balco's operations and performance. The block has estimated reserves of 900 million tonnes. Balco was incorporated in 1965 as the first public sector undertaking in the country. In 2001 the Centre disinvested 51 per cent shares of Bharat Aluminium Company Ltd (BALCO) to Sterlite Industries Limited, a subsidiary of Vedanta Limited. The remaining 49 per cent is with the Centre.

The development acquires significance since Vedanta's holding company, Vedanta Resources, will receive nearly 70 per cent of the dividend to be distributed

Diversified natural resources company Vedanta on Thursday said it has received "quite a number of bids" for its Sterlite Copper unit in Tamil Nadu, and is in the process of evaluating them

So far, the company's dividend payout in FY23 stands at Rs 18,960 crore, ahead of FY22 total dividend of Rs 16,740 crore

CLOSING BELL: Beaten down PSB, Metal, and Energy (Oil and Gas) indices rose the most in today's trade. Related indices advanced between 4 per cent and 4.5 per cent

The parent firm's dollar bonds rose the most in six weeks Friday, with the notes maturing in July hitting the highest level since October, according to Bloomberg-compiled data

Net sales up 50% at Rs 33,697 crore; reported topline is a record consolidated quarterly revenue

Nicomet has a capacity to produce 7.5 tonne per annum of nickel and cobalt.

Hindalco Industries and Anil Agarwal-led Vedanta Limited are private aluminium producers in the domestic market.

The promoter group companies have a purchase offer size of up to 4.57 percent of total shares outstanding as of Sep-30, 2021

The board has also appointed various advisors to assist in evaluating the options, said the filing

Low base effect drives better YoY show, bottom line up 9.2% sequentially

Top line up 79% YoY at Rs 28,105 cr; lower base also spurs annual surge in bottomline

Net sales up on higher commodity prices, rupee depreciation, increased volumes at Zinc India and iron ore business

Stake hike comes after Vedanta Resources, the company's promoter, had failed to delist Vedanta Ltd in October as it did not get bids for a sufficient quantity of shares

In a statement, the company said the tax expense for the quarter was at Rs 2,370 crore.

Located over 100 km from Hazira port and 90 km from the upcoming Magdala port, the unit will occupy 415 acres and will be operational by 2022